A group of local investors has purchased a second former Crozer Health hospital. As a result, efforts are underway to reopen both properties as medical centers.
KQT Aikens Partners, led by Todd Strine, acquired the properties following the collapse of Crozer Health. Prospect Medical Holdings filed for bankruptcy in January 2025. Consequently, the Delaware County health system closed all four hospitals.
Now, the investor group is pursuing different redevelopment plans for each facility. The former Taylor Hospital in Ridley Park could host multiple medical tenants. In particular, a large health system may anchor the property while physician groups lease additional space.
Meanwhile, the smaller Springfield Hospital could be converted into a specialty hospital. Therefore, the two properties are being positioned for different healthcare uses.
Initially, the group attempted to secure one major health system to lease Taylor Hospital. However, those discussions have not produced a final agreement.
As a result, the property is now being marketed nationally. The site has also been renamed the Ridley Park Medical Campus. Additionally, Chicago-based Avison Young was hired to assist with leasing.
Interest has already emerged from several groups. Physician groups exploring ambulatory surgery centers have expressed interest. In addition, an investment group from California plans to tour the property.
Still, securing a major health system remains the top priority. However, some level of state support may be required to reopen the hospital. Discussions with state officials are ongoing.
*Article courtesy of Philadelphia Business Journal
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